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Ningbo Joyson profit misses consensus by 32.8% in Q3

Ningbo Joyson Electronic Corp. said its normalized net income for the third quarter amounted to 14 fen per share, compared with the S&P Capital IQ consensus estimate of 21 fen per share.

EPS climbed 19.0% year over year from 12 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 97.2 million yuan, a gain of 20.1% from 80.9 million yuan in the year-earlier period.

The normalized profit margin dropped to 1.8% from 3.8% in the year-earlier period.

Total revenue grew year over year to 5.78 billion yuan from 2.12 billion yuan, and total operating expenses increased on an annual basis to 5.44 billion yuan from 1.95 billion yuan.

Reported net income grew 93.5% year over year to 158.5 million yuan, or 23 fen per share, from 81.9 million yuan, or 12 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.